Own It! 147 | Do You Pay Yourself?

On Own It! The Podcast 147, Nicola’s guest for the last of five shows during Judith’s August holiday is finance mentor for women in business, Rosie Slosek, who brings today’s client challenge to the podcast. It’s all about how you pay yourself from your self-employment or small business.

In the Show

Rosie tells Nicola how she first discovered her, by reading an article in a women’s magazine about a decade ago which her Mum brought her. She remembers especially Nicola talking about Ecademy. Rosie is another who mainly rests during August.

Nicola’s had her fourth Greek lesson and is learning just what a complex language it is. Her kids have arrived and exploded into her house, but not before she’d braved the Kalamata bypass in a hire car with a manual gearbox on her way to collect them from the airport.

Client Challenge of the Week

Do you pay yourself from your business and, if so, how? Salary? Dividends?

How much do you understand about profits and losses, and the difference between being a sole trader or a limited company and how you take money out of either?

How aware do you feel about the importance of cashflow management, ticking legal boxes, and knowing your tax bills in advance not arrears?

Educate yourself about your business finances and how to pay yourself and you can stop worrying about money forever, which Nicola likens to living under a black cloud, meaning that you have no idea how much money you can afford to invest in marketing yourself / your biz.

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